Our responsibility

Doing business the right way

A Global Leader … Our Responsibility

Experian is the global leader in credit reporting, serving the needs of more consumers
and businesses in more countries than any other company. Consumers and lenders in
major economies around the world confidently rely on Experian credit reports to expand
and manage consumer credit lending, which in turn helps drive our local economies.
As such, we take our responsibility very seriously in managing vast amounts of credit
data.

The quality and completeness of the information we sell is the cornerstone of our
business, and more so, it is the cornerstone of the consumer credit industry and is
used in millions of credit decisions daily. We recognize that our data has a direct
impact on the lives of consumers and on the business performance of our clients. Our
data must be as accurate, complete and current as possible to service the needs of
consumers and lenders day in and day out, and we take that responsibility very seriously.

Commitment to Consumers

Consumers should expect that the information reported about them is an accurate
reflection of how they have handled their credit obligations over time. Consumers
also need help in understanding the information, understanding what steps they can
take to improve eligibility for credit, and understanding in the rare instances when
errors in reports do occur, what actions are required by the consumer, the data furnishers
and Experian to resolve those issues. We are committed to providing the highest quality
services to help consumers in this process and each year, we introduce new enhancements
to consumer services to improve our engagement and our results.

Highest Quality of Information

Lenders also have very high expectations about the quality of information in credit
reports. Lenders rely on the information provided by credit bureaus to make the best
decisions possible in terms of extension of new credit and in managing the risk of
lending money to consumers who are often unknown to them. The information must
be accurate, complete, and current so that it is a true picture of the risk associated
with lending to a consumer and about the opportunity of building a long and loyal
relationship with a new customer.

Lenders hold Experian accountable for the quality and completeness of the information
they depend upon to drive their business. Quite simply, if a lender is not confident
of the quality, accuracy and completeness of the information they buy from Experian
to make their credit decisions, they will switch their business to another provider.
We are committed to providing the highest quality data and invest millions of dollars
annually to ensure that we meet these high standards of consumers and lenders.

Pursuers of “Error-Free” Data

Lenders are also often data furnishers to credit bureaus. Data furnishers typically
provide Experian with an update on every consumer credit account every month, providing
the most recent account details like balance amounts, payment amounts and whether
the account was paid on time. In the US, as an example, Experian receives and processes
about 60 million account updates every single day to keep the information as current
and accurate as possible.

Experian has established very high standards for the data reported to our database,
and we invest heavily in measuring, monitoring and managing the accuracy and completeness
of information we receive. While both Experian and data furnishers are obligated under
various legal regulations regarding the quality of information reported to a bureau,
Experian takes our commitment to the next level and sets the highest standards in
the industry for data reporting. As part of that commitment, we invest millions of
dollars annually upgrading our systems and processes on a regular basis in pursuit
of “error-free” data.

Doing Business the Right Way

Experian believes that there is a natural and important balance of interests between
the needs of consumers, lenders and the credit industry in this process, and we’re
committed to ensuring that the balance is maintained. We make every effort to keep
consumers needs in balance with lenders needs.

It’s simply the right way to do business.

Peg SmithExecutive Vice PresidentExperian North America

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Experian and the Experian marks used herein are service marks or registered trademarks of Experian Informations Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.